USDJPY PRE-MARKET ANALYSIS MARCH 14, 2021
OVERALL MARKET TREND: BULLISH ON DAILY AND WEEKLY TF
After a breakout into higher highs, and a retracement into a key zone. price went back up again. Depending on what price decides to do, it can either break out into higher highs or fall into zone 2, at which it can either bounce at support or breakout into lower lows.
Once it hits zone number 3, there is a high probability for a trend continuation to the upside.
I hope this is helpful.
After a breakout into higher highs, and a retracement into a key zone. price went back up again. Depending on what price decides to do, it can either break out into higher highs or fall into zone 2, at which it can either bounce at support or breakout into lower lows.
Once it hits zone number 3, there is a high probability for a trend continuation to the upside.
I hope this is helpful.
Comment:
A lot of buying pressure, hitting our zone 1. Waiting on breaout confirmation and switching to 1H for entry confirmation
Comment:
Correction in the making.
Possible move down to our Zone 2. We'll see where this bear candle closes.
Possible move down to our Zone 2. We'll see where this bear candle closes.
Comment:
at a support level. If it breaks bearish, price will get down to our Zone 2. If not, a long position isn't far.
Comment:
looks like a lot of buying pressure. a long position entry is higly likely.
Comment:
Looks like a lot of buying pressure and price is staying around our Zone 1. Price is also respecting our trendline on 1H TF. If it breaks out of our upper zone with a strong bull candle. Going to take a long position.
Comment:
At a pretty important zone of resistance and a tight wedge.
Depending on where this hour 4H candle closes, we react accordingly.
Depending on where this hour 4H candle closes, we react accordingly.